Macquarie upgrades Century Casinos on free cash flow confidence

Macquarie upgraded Century Casinos to Outperform from Neutral with an unchanged price target of $5 after two days of management meetings. While shares have traded off so far in 2024, there is minimal downside to estimates, the analyst tells investors in a research note. The firm has more confidence in Century’s ability to generate 85c per share of free cash flow in 2025. It also sees several near-term catalysts for the shares, including The Riverview opening, Poland re-licensing and completion of Caruthersville.